KBC Group NV raised its holdings in ServiceNow Inc (NYSE:NOW) by 5.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,431 shares of the information technology services provider’s stock after buying an additional 8,185 shares during the period. KBC Group NV owned about 0.09% of ServiceNow worth $28,704,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NOW. CAPROCK Group Inc. bought a new position in shares of ServiceNow during the second quarter worth approximately $266,000. Mn Services Vermogensbeheer B.V. increased its stake in shares of ServiceNow by 2.6% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 27,151 shares of the information technology services provider’s stock worth $4,492,000 after purchasing an additional 700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of ServiceNow by 1.3% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,771 shares of the information technology services provider’s stock worth $9,964,000 after purchasing an additional 752 shares during the period. LPL Financial LLC increased its stake in shares of ServiceNow by 9.2% during the first quarter. LPL Financial LLC now owns 5,273 shares of the information technology services provider’s stock worth $872,000 after purchasing an additional 444 shares during the period. Finally, Macguire Cheswick & Tuttle Investment Counsel LLC increased its stake in shares of ServiceNow by 4.8% during the second quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 6,505 shares of the information technology services provider’s stock worth $1,122,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 96.65% of the company’s stock.

A number of equities analysts have recently weighed in on the company. Credit Suisse Group increased their target price on ServiceNow from $180.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. JMP Securities increased their target price on ServiceNow to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. Morgan Stanley increased their target price on ServiceNow from $172.00 to $198.00 and gave the stock an “overweight” rating in a research note on Thursday, July 26th. Royal Bank of Canada reiterated a “buy” rating and set a $205.00 target price on shares of ServiceNow in a research note on Thursday, July 26th. Finally, Northland Securities reiterated a “buy” rating and set a $200.00 target price on shares of ServiceNow in a research note on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $195.58.

In other ServiceNow news, insider Chirantan Jitendra Desai sold 15,031 shares of the firm’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $178.13, for a total value of $2,677,472.03. Following the sale, the insider now owns 15,534 shares of the company’s stock, valued at approximately $2,767,071.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frank Slootman sold 100,000 shares of the firm’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $179.66, for a total value of $17,966,000.00. Following the completion of the sale, the director now directly owns 127,072 shares in the company, valued at approximately $22,829,755.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 282,687 shares of company stock worth $50,799,375. Company insiders own 1.60% of the company’s stock.

Shares of NOW stock opened at $185.74 on Wednesday. The firm has a market capitalization of $31.96 billion, a price-to-earnings ratio of -176.90, a price-to-earnings-growth ratio of 42.94 and a beta of 1.14. ServiceNow Inc has a fifty-two week low of $103.00 and a fifty-two week high of $194.81. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.19 and a current ratio of 1.19.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 25th. The information technology services provider reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.06. The firm had revenue of $631.05 million for the quarter, compared to the consensus estimate of $616.68 million. ServiceNow had a negative return on equity of 8.12% and a negative net margin of 4.16%. The company’s revenue was up 40.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. analysts forecast that ServiceNow Inc will post 0.16 earnings per share for the current year.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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